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Inversora Juramento swings to loss in fiscal Q1

Inversora Juramento SA said its normalized net income for the fiscal first quarter ended Dec. 31, 2014, came to a loss of 11.4 million pesos, compared with income of 554,130 pesos in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to negative 4.8% from 0.3% in the year-earlier period.

Total revenue climbed 27.2% on an annual basis to 237.2 million pesos from 186.6 million pesos, and total operating expenses grew 33.7% on an annual basis to 236.1 million pesos from 176.6 million pesos.

Reported net income totaled a loss of 12.4 million pesos, or a loss of 3 centavos per share, compared to income of 627,280 pesos, or 0 centavos per share, in the prior-year period.

As of Feb. 11, US$1 was equivalent to 8.67 Argentine pesos.